[SMM Analysis] Spot-Order Payables Remain Strong, Pullback in Nickel Sulphate Prices Drags Down Precursor Prices

Published: Jun 11, 2026 12:17

Save

This week, ternary cathode precursor prices weakened somewhat, with nickel sulphate prices slipping, while cobalt sulphate and manganese sulphate prices held steady.

Regarding discounts, for June and Q2 orders, as sulphate raw materials were relatively tight and prices trended strong, some producers showed a willingness to increase discounts. For long-term contracts, some producers have already settled long-term agreements and no upward adjustments have been made. For spot orders, since nickel sulphate prices remained at relatively high levels, the nickel coefficient for some consumer-related spot orders in June rose notably, but cobalt sulphate prices performed relatively weakly, with the coefficient not yet rebounding significantly.

On the production side, boosted by downstream demand from Europe, South Korea, etc., some producers' export orders performed well; meanwhile, driven by rising raw material prices and gradually improving end-use demand, downstream customers in China also entered a stockpiling phase, with top-tier producers maintaining relatively high production schedules.

Looking ahead, sulphate prices have recently pulled back overall, and future new order prices will need to watch the pace of downstream stockpiling in Q3.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

[Lithium Battery: Times BAIC Battery Factory's First Cell Rolls Off Production Line]

Recently, the first cell rolled off the production line at the battery factory of Times BAIC (Beijing) New Energy Technology Co., Ltd., marking the start of the mass production phase. Times BAIC was jointly invested in and constructed by CATL, BAIC Group, Beijing Energy Group, and Xiaomi Group. Currently, construction of the factory is nearing completion, with equipment for the second production line undergoing commissioning. Full-scale production is expected to commence in August. For the entire year of 2026, the factory is projected to produce 7.5 GWh of cells. Once the project reaches full capacity, it will form an annual power battery production capacity of 15 GWh, significantly enhancing the product strength and cost advantages for Beijing-Tianjin-Hebei vehicle manufacturers such as BAIC and Xiaomi.

Common.Time.minsAgo

[Lithium Battery: Nation's Largest Single-Station Vehicle-To-Grid Flash Charging Demonstration Station Launches]

On June 9, the second phase of the China Southern Power Grid Shenzhen Guangming Hongqiao Park Flash Charging Demonstration Station was officially put into operation, with the addition of 14 new V2G (vehicle-to-grid) charging piles. This station has become the largest single-station megawatt-level vehicle-to-grid flash charging demonstration station in the country. The maximum single charge/discharge power capacity of this demonstration station reaches 4.21 megawatts, capable of simultaneously accommodating 61 new energy vehicles for charging and discharging operations. Additionally, it is the first flash charging station under China Southern Power Grid to integrate an electric power inspection drone nest.

Common.Time.minsAgo

1 hour ago

General Motors plans to develop sodium-ion batteries.

On June 9 local time, General Motors and US grid energy storage company Peak Energy announced that they would jointly develop and deploy next-generation sodium-ion battery cells purpose-built for grid energy storage. Under the agreement, General Motors will be responsible for sodium-ion cell R&D at its battery lab in Michigan and retain exclusive manufacturing rights for the cells; Peak Energy will integrate these cells into its proprietary energy storage systems.

1 hour ago